Opportunities for Growth in challenging China Market

JasonJul 09, 2015

Chinese shares have fallen nearly 30% after hitting a peak June 2 and it doesn’t appear that official efforts to prop up prices have helped much with stocks falling on Tuesday. It’s more important than ever to understand the Chinese consumer and identify areas of opportunities for marketers.

Recently, ProsperChina™ uncovered the merchandise categories in which Chinese consumers are planning to spend more and also some key behavioral characteristics in regards to online shopping and mobile usage. Analytics such as these are key for executives to navigate a volatile economic environment plagued by uncertain consumers.

According to the ProsperChina Consumer Spending Score, which represents consumers’ intended level of retail spending over the next 90 days for a particular category, Children’s Clothing, Women’s Casual Clothing and Shoes appear to be hotspots among Chinese Consumers. On the other hand, Women’s Dress Clothing, Electronics and Men’s Dress Clothing all had an index below 100, indicating consumers are planning to spend less in these areas.

Through agreements Alipay has made with companies such as Macy’s and Saks, Chinese consumers can now easily shop American retailers with confidence online. Online shopping has been a main channel of consumption in China, especially within the 18-54 demographic; 70% of Chinese purchase products online compared to 29% of Americans who do the same. Further, nearly half (48.4%) of Chinese consumers have a retailer app on their smartphone compared to 20% of U.S. consumers. Chinese consumers are largely influenced through information sharing and communication with retailers via their social media sites. More and more retailers are putting the mobile version link of their online stores via social media.

Sources:

Chinese shares have fallen nearly 30% after hitting a peak June 2 and it doesn’t appear that official efforts to prop up prices have helped much with stocks falling on Tuesday. It’s more important than ever to understand the Chinese consumer and identify areas of opportunities for marketers. Recently, ProsperChina™ uncovered the merchandise categories in which Chinese consumers are planning to spend more and also some key behavioral characteristics in regards to online shopping and mobile usage. Analytics such as these are key for executives to navigate a volatile economic environment plagued by uncertain consumers. According to the ProsperChina Consumer Spending Score, which represents consumers’ intended level of retail spending over the next 90 days for a particular category, Children’s Clothing, Women’s Casual Clothing and Shoes appear to be hotspots among Chinese Consumers. On the other hand, Women’s Dress Clothing, Electronics and Men’s Dress Clothing all had an index below 100, indicating consumers are planning to spend less in these areas. Through agreements Alipay has made with companies such as Macy’s and Saks, Chinese consumers can now easily shop American retailers with confidence online. Online shopping has been a main channel of consumption in China, especially within the 18-54 demographic; 70% of Chinese purchase products online compared to 29% of Americans who do the same. Further, nearly half (48.4%) of Chinese consumers have a retailer app on their smartphone compared to 20% of U.S. consumers. Chinese consumers are largely influenced through information sharing and communication with retailers via their social media sites. More and more retailers are putting the mobile version link of their online stores via social media. Learn more in our Global Ready China Seminars Sources: Article: Forbes / Image: SI TRICIA! 王圣捷

Opportunities for Growth in challenging China Market

Opportunities for Growth in challenging China Market

2015-07-09

Jason

Readers' Rating

0

How did you like this article? Would you like to read more content like this?
Tell us your opinion: by rating this article you help us select the most relevant content for you in the future. Thank you for pointing us in the right direction.

Share this !

Jason Pacheco (President of BMG – BRIC Marketing Group) is a veteran of the travel and tourism industry with over 25 years of experience. He held assignments in sales and marketing for various hotel companies and destination marketing organizations. Jason specializes in building relationships with key professionals in growth markets like Brazil, China and India, and has had great success in integrating B2B marketing and travel trade strategies as well as consumer cooperatives and digital strategies.